> The initial plan of Ethereum was to launch with Proof of Work, and very quickly afterwards switch to Proof of Stake
And that’s the problem... it’s a bait and switch, because the miners had to bear the capital costs of investing in mining rigs, which would suddenly lose a lot of value in a switch to PoS. I think this is the original sin of Ethereum, and the network will be forever plagued by conflict because of it.
Not really a bait of switch though since Ethereum has always been very clear that this is the plan. Anyone who bought a rig should have known that they had a limited investment horizon.
And that’s the problem... it’s a bait and switch, because the miners had to bear the capital costs of investing in mining rigs, which would suddenly lose a lot of value in a switch to PoS. I think this is the original sin of Ethereum, and the network will be forever plagued by conflict because of it.
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